National Bank of Canada (Banque Nationale du Canada or NBC) is one of the best banks in Canada. It’s one of the most trusted financial institutions in the country, used by hundreds of thousands of Canadians. NBC is also one of the leading commercial banks in the country. It takes pride in being part of the Canadian Big Six Banks1, next to top-grade institutions like Scotiabank, TD Bank, CIBC, BMO, and RBC.
NBC was established in 1859. Back then, the bank was limited to only operating in the territory of Quebec due to falling under provincial legislation. However, the bank soon merged with other similar entities, and the first version of the Canadian National Bank was established. The institution underwent a range of acquisitions, modifications, and financial challenges until it finally merged with its biggest competitor in 1979 – the Provincial Bank of Canada. The bank changed its name to the National Bank of Canada.
Today, NBC is one of Canada’s most popular, safest, and largest banks. It has more than 940 ATMs and 420 branches in the country.
NBC Products and Services
NBC caters to all sorts of customers, ranging from business managers and legal and health professionals to students, foreigners, investors, etc. Let’s review their personal and business products and services.
National Bank of Canada Credit Cards
The National Bank ranks #1 among Canadian credit card issuers for Customer Experience according to the Forrester CX Index1. The recommended score for all NBC credit card offers is Good Credit, thus you can get approved Excellent Credit as well as Bad Credit, too.
NBC World Mastercard – comes with concierge service, reassurance protection, rental vehicle insurance, travel assistance, and an extended warranty. Cardholders will earn 2 points on ALL card purchases without any restrictions.
NBC Platinum Mastercard – comes with reassurance protection, trip cancelation, trip interruption insurance, extended warranty, purchase protection, and rental vehicle insurance. Cardholders will get 20,000 bonus rewards and earn 1 point on ALL card purchases without any restrictions.
NBC World Elite Mastercard – is a travel reward credit card for those who travel regularly and wants to earn up to 2 points for every dollar spent without any restrictions. The card also offers trip cancelation, flight delay, and baggage insurance, as well as travel assistance services.
ECHO Cashback MasterCard – cardholders will earn 1.5% cashback on gas, online purchases, and grocery stores, and 1% on all other purchases. The card also offers an extended warranty and purchase protection.
Syncro Mastercard – this card features low annual percentage rates (APRs) on purchases, balance transfers, and cash advances and is the best option for those who carry over the balances. The card also has purchase protection and an extended warranty.
mycredit Mastercard – this card is best for students. It has no annual fee and an attractive cash back rewards program that will earn 1% on restaurant purchases and recurring payments. The card also features mobile phone insurance.
Allure Mastercard – the best card for those who want to support Quebec Breast Cancer Foundation without actually making donations directly. The National Bank of Canada will send a portion of your spending directly to the foundation without extra charges. The card has no annual fee and will earn 1 point per 2 dollars spent.
MC1 Mastercard – a student card with no annual fee, featuring a free additional card and practical payment solution for everyday spending. Cardholders can set their own credit limits and control their spending with a few clicks.
Designed for individual account holders, personal banking services and products come in different packages to ensure seamless banking experiences and transactions. Customers have two options on their hands – personal chequing accounts and personal high-interest savings accounts (HISA). There are four types of personal chequing accounts:
- Minimalist – holders get up to 12 transactions per month for an affordable fee. Specific age groups, such as youngsters (0–17), students (18–24), and seniors (65+), aren’t required to pay monthly fees.
- Modest – this type of account includes two monthly fee structures; for seniors and regular customers. Additionally, holders can access online statements, the EXCHANGE2 network ATMs, e-transactions, 30 digital transactions per month, and free Interac e-transfers. Young people and students with a balance of over $3,000 aren’t required to pay monthly fees.
- Connected – comes with different monthly fee structures for different age groups, a credit card annual fee waiver, unlimited and free Interac e-transfers3, and unlimited digital transactions. If you keep more than $4,000 in your account, you don’t have to pay monthly fees on your balance.
- Total – includes unlimited counter and digital transactions, MasterCard waiver, overdraft protection, and a different fee structure for regular customers. Anyone with a balance of $6,000 is free of paying fees.
NBC Savings Accounts
National Bank customers have two types of NBC savings accounts:
- HISA – HISA savings accounts are perfect for savers looking to earn high interest on account balance, regardless of the number of their balances. Additionally, HISA holders can transfer funds between their NBC accounts for free and without limits.
- Progress account – designed for frequent travelers and people with high balances, the Progress account allows you to earn top-grade interest on a balance of $5,000 or more. It offers additional services such as account statements, inquiries, mobile and online transactions, in-branch transfers, withdrawals, and bill payments.
NBC Business Banking
Business banking packages from the Canada National Bank are designed for all sorts and profiles of business owners. Here’s a quick overview of the bank’s business offerings.
Business Current Accounts
NBC offers two types of business accounts:
- CAD account – if your business requires you to complete daily transactions, the CAD account comes in six different packages and is protected by the Canada Deposit Insurance Corporation4 (CDIC).
- USD account – manage conversion fees, view your operations in USD, and enjoy CDIC coverage for all USD account deposits.
Business Investment Account (BIA)
Business owners also get access to business investment accounts (BIA). This type of account allows holders to earn top interest and access additional features such as unlimited access to funds, free account opening, no monthly transaction fees, and overdraft protection. National Bank also caters to foreign clients by offering an affordable foreign currency account that supports 15 different currencies.
NBC Business Banking Packages
National Bank business account holders have six packages at their disposal:
- NBC e-package
- 20 transactions package
- 35 transactions package
- 50 transactions package
- 75 transactions package
- 100 transactions package
Each package includes a monthly fee, credit, and debit card transactions, cheque deposits, and bank deposits (the NBC e-package doesn’t include a maximum bank deposit).
Additional NBC Products
NBC offers a range of mortgage loans, insurance products, personal and business financing solutions, and personal and business investment solutions. Additionally, NBC account holders have multiple banking ways, including a mobile app and mobile and internet banking solutions.
Frequently Asked Questions
- Big Six Banks in Canada. Investopedia
- The EXCHANGE Network ATMs. Public Services CU
- Interac e-Transfer. Wikipedia
- Canada Deposit Insurance Corporation. CDIC